The Brisbane Lions have re-written the record books with their third straight AFL premiership.

The Lions thrashed a disappointing Collingwood at the MCG by 50 points to become the first team to win three consecutive flags since Melbourne in the 1950s.

The Lions dominated from the first bounce, leading at every change to win 20.14 (134) to 12.12 (84).

Simon Black starred for Brisbane with 39 possessions, and was awarded the Norm Smith medal for best on ground performance.

A delighted Black thanked his team-mates and the club for their support.

"I'd obviously firstly like to thank the Brisbane Lions Football Club, they gave me an opportunity back in 1998, I absolutely love you up in Brisbane and these bunch of guys I play with I'd absolutely die for," he said.

Jason Akermanis also impressed with five goals, while Alastair Lynch was his reliable self with four goals.

Collingwood captain Nathan Buckley was kept quiet in the first half by opponent Robert Copeland, but a move to the forward line after the break saw the Brownlow medal winner finish with 24 possessions and one goal.

Forward Alan Didak tried hard for the Magpies and finished with three goals, while team-mate Josh Fraser also proved effective.

The match began in brilliant sunshine after morning rain and hail in Melbourne, but the rain returned late in the second quarter.

Against all odds

Lions midfielder Nigel Lappin, in doubt all week with a rib injury, started the match along with captain Michael Voss, who has been having injections in his knee before matches in order to take to the field.

Voss says his team overcame adversity this year to make history.

"This group is quite an amazing group," he said. "They've shown true grit and courage throughout the year.

"We've probably been written off at many stages throughout the year and they just keep believing."

During his acceptance speech, Voss played tribute to the players' partners, saying they had responded to a call by Lions coach Leigh Matthews for the players and their loved ones to make sacrifices for the good of the team.

Lappin, meanwhile, says this year's victory is the most satisfying of the three premierships.

"The first one's a little bit more emotional and a little bit more amazing, a bit unbelievable that you've done it," he said.

"We didn't really speak about trying to win three in a row but I can tell you it's very sweet, down here all the boys are very pumped, no doubt we'll have a big night tonight."

Matthews Magic

Brisbane's win also continued Matthews' perfect record as a grand final coach.

Matthews, who guided Collingwood to its last premiership in 1990, now boasts four premierships from four grand final starts.

The star coach joined the Lions when they were bottom of the ladder five years ago, and has led them to premiership glory in the past three years, while his Collingwood triumph saw the club break a 32-year title drought.

Matthews says he was surprised by the ease of the win given Brisbane's injury problems.

"I kind of had this foreboding that we were limping in a bit today which was well publicised but behind the scenes we were limping a bit too and to have the kind of win they did, they are a very special group," he said.

First quarter

The Lions got off to a flying start, Clark Keating winning the first hit out.

Brisbane forward Jonathan Brown was left seeing stars in the contest, hit high by Collingwood hardman Scott Burns.

Simon Black took the subsequent free-kick and found Lynch in the goal square.

Lynch made no mistake from straight in front, and kicked the first goal of the match to see the Lions out to a 6-0 lead.

The next few minutes were marked by tight, physical contests.

Clean possessions were hard to come by as both teams tackled with ferocious power.

The Lions moved further in front with a behind to Voss before Woewodin, from 40 metres out and on a slight angle, got one back for the Magpies.

Brisbane continued to attack with straight direct kicks, while the Magpies made their way down the field with short passes.

The Lions, however, were dominating the centre, and a free kick to Keating put the reigning premiers in an attacking position.

Lappin grabbed his first touch for the match from the free kick and then found Bradshaw, beautifully positioned, 40 metres out in front of goal.

Bradshaw kicked the goal and the Lions led by seven.

Akermanis had a chance to put the Lions further in front but missed from 25 metres out.

The Magpies finally found the ball and Fraser took a lovely mark in front of goal. Fraser made no mistake and the Magpies had reduced the margin to one point.

But it was the Lions who had the better of ball, and a lovely series of hand passes ended with a wonderful goal to Akermanis - his long bomb from 50 metres out finding the middle of the posts.

Voss was rested to the bench with less than 10 minutes left in the quarter, but the captain's absence was not enough to slow the Lions.

A goal to McRae saw the Lions stretch their lead to 13 points, and they would have been further in front but for another miss by Akermanis, although this one was a more difficult chance from 52 metres out.

The Magpies did not see much of the ball in the final stages of the quarter, and could manage only behinds.

And when former Bomber Caracella kicked a goal for the Lions, the lead had ballooned to 20 points.

However, casual work from Darryl White in the Lions' defence saw Collingwood take possession and Brownlow medallist Buckley kicked a late goal to reduce the quarter-time margin to 14 points.

Second quarter

The Lions came out roaring in the second term, a 30 metre snap from Akermanis moving the lead back out to 20 points.

Magpie Alan Didak attempted to reduce the margin with a 60 metre strike, but the ball hit the post.

Relentless pressure from the Lions kept the Pies on the backfoot, and Richard Hadley took advantage, kicking a goal in only his fourth AFL game.

Didak managed to pull one back for the Magpies, albeit a lucky goal with the proceeding kick from Tarrant a shocker.

Both teams then traded behinds before a free kick to Justin Leppitsch ended in yet another Lions goal.

The Lions continued to apply defensive pressure and the Magpies buckled, Lynch kicking his second goal of the match to see the lead out to five goals.

Things went from bad to worse for the Magpies, as Lynch added his third just minutes later.

And when Black was rewarded for his hard work just before the break, the half-time margin had blown out to seven goals.

Third quarter

The Magpies displayed much more enthusiasm after the break, lifting to kick the first two goals of the quarter.

Burns collected the first of the term, hooking the ball around the corner from eight metres out.

Didak then grabbed his second of the match, reducing the margin to 30 points.

The Lions could manage only behinds to Voss, Ashley McGrath and Luke Power, while key defender Leppitsch left the field with a calf injury.

But Akermanis steadied the ship for Brisbane, booting a goal from 20 metres out on a slight angle.

The midfielder was back in the thick of things just moments later, Black kicking long for Akermanis in the Magpies' half.

This time Akermanis, from 30 metres out, was off target and had to settle for a behind.

Caracella booted his second from 35 metres out to put the Lions in front for the quarter, before Burns quickly turned that statistic around, kicking his second to reduce the margin to 40.

Tarrant, relatively quiet for much of the match, made it two in a row for the Magpies with a straight forward goal from a slight angle.

But the Lions were not about to let the Magpies gain the momentum, and attacked the ball with gusto.

Grand final veteran Martin Pike grabbed hold of the ball near the boundary line, threw the ball on his boot and kicked a goal.

The Magpies, however, did win the term, Heath Scotland kicking a goal moments before the final change to reduce the margin 14.12.(96) to 9.7 (61).

Fourth quarter

As they have done for the past two weeks against Adelaide and Sydney, the Lions finished the final quarter at a million miles an hour.

Akermanis ran riot in the final term, booting the opening goal.

While the stunned Magpies watched their premiership dreams disappear, veteran Lynch notched his fourth for the match from point blank range.

Brown got into the goal action, kicking his first of the match before following up with a second late in the quarter.

Akermanis then kicked his fifth and set up one for Shaun Hart as the Lions pushed out to a lead of more than 10 goals.

The Magpies kicked the final three goals of the match to restore a vestige of respectability.

But it was the Lions who would enter the record books, claiming an historic premiership hat-trick and proving why they are considered one of the best teams ever to play in the AFL.

Carlton (1906-08), Collingwood (1927-30) and Melbourne (1939-41 and 1955-57) are the only other teams to have won three straight AFL flags.